Instagram’s co-founders to step down

Instagram founders resign from Facebook

Kevin Systrom and Mike Krieger founded the app in 2010 and sold it for a billion dollars.

Update: The news has been confirmed in a blog post written by Systrom. There was no indication of any issues as he said that the two are “now ready for our next chapter.”

Kevin Systrom:

Mike and I are grateful for the last eight years at Instagram and six years with the Facebook team. We’ve grown from 13 people to over a thousand with offices around the world, all while building products used and loved by a community of over one billion. We’re now ready for our next chapter.

We’re planning on taking some time off to explore our curiosity and creativity again. Building new things requires that we step back, understand what inspires us and match that with what the world needs; that’s what we plan to do.

We remain excited for the future of Instagram and Facebook in the coming years as we transition from leaders to two users in a billion. We look forward to watching what these innovative and extraordinary companies do next.